Delhi High Court has issued notice in a bail plea moved by Religare Finvest's ex-promoter Shivinder Mohan Singh.
The Single Bench of Justice Anu Malhotra has issued notice to the Delhi Government and will next take up the matter on October 12.
Shivinder Mohan Singh is accused of money laundering as per the offences laid down in sections 3 and 4 of the Prevention of Money Laundering Act. He, along with his brother Malvinder Singh, and Sunil Godhwani, are accused of committing financial fraud running into 3000 crores, which is dated to the period of their ownership of Religare Finvest.
Earlier, the Delhi High Court had granted bail to Shivinder Singh in a case which is being investigated by the Enforcement Directorate. However, Singh could not be released from jail as an appeal against that order is now pending before the Supreme Court.
Both Shivinder and his elder brother Malvinder Mohan Singh were arrested by the Economic Offences Wing (EOW) of the Delhi Police last December in a case related to alleged misappropriation of funds at Religare Finvest Ltd (RFL, which was an arm of Religare Enterprises. The EOW alleged that the Singh brothers had connived with the employees of Lakshmi Vilas Bank and misappropriated two FDs of Rs 400 crore and Rs 350 crore made with the Lakshmi Vilas Bank by the complainant company.
The EOW registered a FIR in March after it received a complaint from RFL against Shivinder, Godhwani and others, alleging that loans were taken by them while managing the firm but the money was invested in other companies.
The Petitioner in this case is represented by Senior Advocate N Hariharan
Click Here To Download Order